Cover IMF Staff Papers
IMF Staff papers, Volume 37 No. 2
Author:
International Monetary Fund. Research Dept.
Search for other papers by International Monetary Fund. Research Dept. in
Current site
Google Scholar
PubMedClose
Series:
IMF Staff Papers
Volume/Issue:
Volume 1990: Issue 002
Language:
English
Publication Date:
01 Jan 1990
DOI:
https://doi.org/10.5089/9781451947069.024
ISBN:
9781451947069
ISSN:
1020-7635
Pages:
263
Keywords:
SP; deficit; state-contingent rule; zero-inflation policy rule; money-demand shock; monetary policy strategy; deficit variable; Unemployment rate; Personal income; Potential output; Monetary base; Inflation; Europe
Download PDF (13.6 MB) Download Epub
This paper examines the macroeconomic effects of IMF-supported adjustment programs. The evidence is reviewed for such effects, and new estimates are provided of these effects for 69 developing countries with programs during 1973–88. The empirical analysis indicates that in the short term, programs have led to an improvement in the current account and the balance of payments, a lowering of inflation, and a decline in growth. In the longer term, the positive effects of programs on the external balance and inflation are strengthened, and the adverse growth effects reduced.
  • Collapse
  • Expand
Cover IMF Staff Papers
IMF Staff Papers
ISSN:
1020-7635
Publisher:
International Monetary Fund
Volume 1990: Issue 002